Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS) released its earnings results on Wednesday. The utilities provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03), FiscalAI reports. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp had a return on equity of 16.38% and a net margin of 24.25%.The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.23 billion.

Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp Stock Performance

NYSE:SBS traded up $0.04 during mid-day trading on Wednesday, hitting $5.07. The stock had a trading volume of 7,662,129 shares, compared to its average volume of 6,614,941. The company’s 50 day simple moving average is $5.57 and its 200 day simple moving average is $77.66. The stock has a market cap of $17.84 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 4.44 and a beta of 0.68. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.73 and a current ratio of 1.74. Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp has a twelve month low of $4.18 and a twelve month high of $7.16.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Arax Advisory Partners bought a new stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the fourth quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the fourth quarter worth approximately $44,000. EverSource Wealth Advisors LLC increased its stake in shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp by 246.4% during the second quarter. EverSource Wealth Advisors LLC now owns 2,342 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 1,666 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 4th quarter worth approximately $54,000. Finally, Atlas Capital Advisors Inc. acquired a new stake in Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp during the 4th quarter worth approximately $86,000. 10.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SBS shares. Zacks Research cut shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Wall Street Zen raised shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.00.

About Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp

Companhia de Saneamento Básico do Estado de São Paulo (SABESP) is a Brazilian utility that provides water supply and wastewater collection and treatment services. As the principal sanitation company serving the state of São Paulo, SABESP operates a wide range of infrastructure spanning water capture, treatment plants, distribution networks and sewage systems. The company’s activities support residential, commercial and industrial customers and are focused on delivering potable water, ensuring water quality and expanding access to sanitation services.

SABESP’s service offering includes the operation and maintenance of water treatment and sewage treatment facilities, network expansion and rehabilitation, meter reading and billing, customer service and environmental programs aimed at improving sewage treatment rates and protecting water resources.